Based on the turbulent times in which we live, everything is going wrong every moment. New problems are brought to light and the old ones just keep evolving. Even our well-thought out solutions are not working. Meanwhile, some of our communities are ridden with poverty and disease while others are experiencing power shortages.
Unemployment becoming the order of the day, climate change triggering natural disasters, from the small problems to the ones we find life-threatening when action is not taken things can only get worse. The different growing issues threatening our communities require new and innovative effective solutions that can be quickly and easily improved upon if needed to neutralize these issues.
Entrepreneur is a term used to reference someone who has built and scaled a business to generate a profit. Adherence to enterprise risk management as the capacity to organize, manage, and assume the risks of a business. With great wealth comes great potential for innovation, investment, and economic development. With more pros than cons, it will certainly be beneficial for humanity in this age of science. With so many enterprises being erected by entrepreneurs in different sectors, solutions are being made available regularly for the social and economic problems we face.
Every entrepreneur possesses a problem-solving mindset also known as entrepreneurial thinking, always looking for a new and more sustainable way to do things always looking for new ways to start up or run their business, even in the midst of their ordinary job. They carry the burden of risk because they believe it is a big problem with the solution needing a big solution. Contrary to popular belief, entrepreneurship is not a lack of working with a blank canvas, but rather the key to entrepreneurial thinking being an observer, assessing your surroundings, identifying issues that need solving, and establishing yourself as a solution provider. There is a sense of responsibility one has to carry, that feeling of ownership where you believe it is you who can create the change and not only wait for the next person to do it for you.
Entrepreneurial energies continue to solve our community’s problems as it has for centuries. Using community concerns as an underlying catalyst for being innovative. Innovation through technology has led to a great number of unique services being put into play to better serve our communities. We can discuss the magic of Uber and how great it is for its users and how it just started as a problem that a bright mind identified and took the responsibility for solving. One of the ways entrepreneurship is used to solve community problems is by helping to create better services, better products, and more environmentally sustainable ways of doing things. We can discuss how certain social media platforms are helping to create a more globalized society, and how it makes it easier to communicate and store information.
Unemployment has become a major problem around the world with the wide variety of communities that are affected. With lack of employment, many problems come as a result, with a lot of the youths just being idle after finishing school with no way to tend for themselves we see the rise in crime rate and drug abuse in some communities. Entrepreneurship and offers the opportunity to open a number of private enterprises, and in turn the number of people employed in these businesses will decrease the unemployment rate. A majority (75%) of the population is benefited by entrepreneurship when it comes to getting jobs, be it by working for an enterprise which is a product of entrepreneurship or by them freelancing and becoming self-employed.
The third way in which entrepreneurship can help in solving community issues is that when the concept is fostered it provides a strong breeding ground for innovation. The self-directed nature to survive makes people financially sustainable, in the process, it decreases the effects of extreme poverty on most communities as more people will have access to basic living expenses.
Entrepreneurship includes the design of sustainable, marketable and customized goods and services to satisfy the needs of consumers. This allows for lower prices for the small business, and they can focus on the comfort of the consumer. The best approach to a problem is to first identify the problem and then use a joint strategy. There is an opportunity to develop new markets to help a community.
Entrepreneurship is now a key engine of growth in all economies, especially developed economies. Entrepreneur-powered businesses can help other business establishments grow along with them, furthering economic development. In a time like this, being able to adapt and evolve is a survival skill everyone should have. Entrepreneurship is providing a change of perspective and approach to how society operates and how new ideas will solve society’s problems. Merging business and sustainability goals, while finding solutions to community problems, is our future of sustainability.